(a) Adjusted for a reporting change in May 2018, which decreased the
number and value of direct credit and direct debit payments

Sources: BPAY; RBA

Table 3: Payments in Australia

Daily average, 2017/18(a)(b)

Number(c)

Value(c)

Interbank settlement value in RITS

'000s

Growth over last 3 years (per cent)

$ billion

Growth over last 3 years (per cent)

$ billion

Growth over last 3 years (per cent)

RITS RTGS

47

8

181

8

176

8

SWIFT payments

44

8

108

4

108

4

Austraclear(d)

12

59

14

55

15

RITS cash transfers

–

–

13

12

13

12

CLS

59

1

282

8

3

10

Retail payments

47,000

39

43

10

5

29

Direct entry(e)

12,000

29

37

13

Cheques

320

−47

4

−17

Credit/charge cards

10,000

30

1

13

Debit cards

24,000

52

1

35

(a) Does not include equity settlements or PEXA payments. NPP was
launched in February 2018 and is not included.
(b) Business days
(c) Includes payments between customers of the same financial
institution
(d) Primarily debt securities transactions; includes cash-only
transactions; excludes intraday repurchase agreements
(e) Includes BPAY; adjusted for a reporting change in May 2018, which
decreased the number and value of direct credit and direct debit
payments

Sources: ASX; CLS; RBA

Table 4: Selected Credit Card Interchange Fees(a)(b)

Excluding GST; per cent

Category

Mastercard

Visa

June 2017

July 2018

June 2017

July 2018

Consumer electronic

–

–

0.25

0.21

Consumer standard

0.29

0.19

0.25

0.21

Consumer elite/high net worth

1.82

0.80

2.00

0.80

Business/Commercial

0.85

0.70

0.84

0.70

Business elite/super premium

1.80

0.80

1.80

0.80

Strategic merchants

0.23 or 0.29

0.18 or 0.23

0.20 to 0.30

0.21 to 0.30

Industry-specific merchants(c)

0.29

0.10

0.25

0.25

Benchmark

0.50

0.500

0.50

0.500

Ceiling

–

0.800

–

0.800

(a) Fees are paid by the acquirer to the issuer, except for transactions
involving a cash-out component
(b) Only selected interchange categories have been listed; Mastercard
has 17 categories overall and Visa has 22 categories
(c) Interchange categories include education, supermarket, government,
utilities, insurance, transit and petrol station, if applicable for the
card scheme

(a) Fees are paid by the acquirer to the issuer, except for transactions
involving a cash-out component
(b) Only select interchange categories have been listed; Mastercard has
17 categories overall and Visa has 16 categories
(c) Not applicable for Mastercard prepaid transactions
(d) Debit card transactions less than $15
(e) Contactless debit card transactions equal to or less than $60
(f) Prior to 1 July 2017, the debit card interchange fee benchmark did
not apply to prepaid card transactions